US-Latin America Energy Investment
While the Trump administration’s “America first” policies are aimed primarily at giving higher priority to national security and economic growth for the United States, the White House’s approach will have impacts on energy relations with the rest of the hemisphere that should also be considered.May 16
The next few years will see a major shift in the hemispheric natural gas trade, as increased US LNG exports increasingly displace volumes from other exporters.
“Despite the 2008 economic recession and the ensuing decrease in the value of commodities, Colombia has maintained a steady growth rate and continued foreign investment”, said Mauricio Cárdenas, Colombia’s Minister of Finance and Public Credit, during an April 19 discussion at the Inter-American Dialogue.
The government of Neuquén—Argentina’s top oil and gas producing province and home to the country’s huge shale play Vaca Muerta—is implementing a detailed plan to eliminate barriers to hydrocarbon development, Governor Omar Gutierrez said at an Inter-American Dialogue panel discussion. This includes facilitating equipment imports by removing customs tariffs, gradually eliminating consumer subsidies for natural gas, and signing a new labor agreement between the provincial government and labor unions.
IFLR speaks with Lisa Viscidi, director of the Energy, Climate Change and Extractive Industries program at the Inter-American Dialogue. Viscidi analyses recent developments in Latin America’s energy markets, particularly in relation to broadsweep energy market reforms in Brazil and Mexico.
A new report by the Inter-American Dialogue analyzes the challenges to environmentally and socially sustainable development of the oil and mining sectors in Colombia and raises important questions for policymakers, such as where extractive industries should be permitted to operate, who should be responsible for oversight and how to make operations more environmentally sustainable.
If the region increases renewables to 80% of the electricity matrix and expands integration, countries can save billions of dollars in investments, avoid blackouts and reduce their greenhouse gas emissions, argue Lisa Viscidi and Ariel Yépez.
Energy continues to be a bright spot in the US-Latin America relationship and new developments, like an uptick in US LNG exports, offer opportunities to increase energy security and cooperation across the Western Hemisphere.
El 29 de noviembre Lisa Viscidi, la directora del Programa de Energía, Cambio Climático e Industrias Extractivas, impartió una presentación en un evento de COMEXI en la Ciudad de México sobre la competitividad del sector petrolero en América Latina.
Addressing Latin America’s transportation challenge requires an integrated approach, including stemming the growth in demand for private cars by improving public transportation systems and non-motorized transportation options; improving fuel efficiency and fuel quality standards; and diversifying fuel sources for transportation.
The less than 3 percent of Colombia’s population that lacks electricity lives mainly in areas of the country that have long been controlled by the FARC and other armed groups, such as Chocó in the Pacific, La Guajira on the Caribbean coast, and Putumayo in the Amazon. Not coincidentally, Colombians without access to electricity also have higher rates of poverty, fewer basic public services, and lower education levels than the rest of the country.